CIP Signs MOU with Samkang M&T for Collaboration in Offshore Wind Substructure Sector

Localization Strategy Specification through Establishing Cooperation System with Domestic Specialized Companies

CIP has signed a business agreement with Samkang M&T, a specialized company in offshore wind foundation structures, for mutual cooperation in the domestic offshore wind power business. / ⓒ Asia Economy

[Asia Economy Honam Reporting Headquarters Reporter Seo Young-seo] CIP, Denmark's largest green energy investment management company, attracted attention on the 24th by signing a business agreement with Samkang M&T, a specialized company in offshore wind foundation structures, for mutual cooperation in domestic offshore wind power projects.

CIP possesses extensive experience, technology, and expertise worldwide in the development, construction, and operation of offshore wind projects, while Samkang M&T is expanding its business into the monopile type sector based on its high-quality jacket-type foundation manufacturing technology and know-how.

This business agreement is expected to greatly contribute not only to the synergy effect of both companies' offshore wind power projects but also to revitalizing the local economy through the creation of quality jobs.

At the signing ceremony held at Samkang M&T headquarters in Goseong, Gyeongnam, CIP/COP Korea CEO Yoo Tae-seung, Co-CEO Jesper Holst, Samkang M&T Chairman Song Moo-seok, along with Einar Jensen, Danish Ambassador to Korea, Park Jong-won, Deputy Governor of Gyeongsangnam-do, and Baek Doo-hyun, Goseong County Governor, attended to celebrate the agreement and promised active support.

CIP/COP Korea CEO Yoo Tae-seung stated, “Through this cooperation with Samkang M&T, we expect to secure a stable supply chain in the foundation structure sector, which is a crucial part of CIP's offshore wind business,” adding, “Going forward, CIP will actively support the co-growth of domestic offshore wind equipment suppliers and their entry into overseas markets, contributing to Korea becoming one of the top five offshore wind power countries.”

Co-CEO Jesper Holst said, “Samkang M&T has been steadily cooperating with CIP, supplying foundation structures for CIP's 589MW offshore wind farms in Changfang and Xidao, Taiwan,” and added, “Strengthening cooperation with Samkang M&T in the Korean offshore wind market is a natural step.”

To encourage cooperation between the two companies, Einar Jensen, Danish Ambassador to Korea, remarked, “Offshore wind power has an industrial structure composed of a broader value chain than any other renewable energy,” and said, “Both Korea and Denmark excel in various areas of the value chain, and this business agreement is expected to create synergy by leveraging the strengths of both countries.”

Meanwhile, CIP manages funds worth approximately 20 trillion KRW and actively invests in green energy projects centered on offshore wind power across 14 countries on 4 continents. Recently, it has gained global attention by promoting the 10GW-scale Energy Island (vindф) project in Denmark.